“…The authors found that there were significant differences between and among metropolitan area locations, however, profitability and growth of the city were positively related while profitability and population of the city were negatively related. DePrince et al (2011), looked at the effect of state demographics on the performance of community banks, between 1994 and 2008. They looked at a variety of variables including population growth, per capita income growth and the ratio of single family housing starts to the population, among others.…”